The New York Times recently posted an article on the importance of hiring a financial planner. And while these types of stories are common, this article presents the unique perspective that having a plan can be as important for managing money stress as having everything settled and in place.
In addition to the importance of having a plan, this article suggests the following key steps in getting a plan in place.
- know your financial habits: track your spending so you know how much and in which categories you spend your money,
- set your goals: lower debt, establish an emergency fund, and contribute regularly to your retirement savings,
- hire a professional financial planner: hiring a planner can help with specific trigger events as well as helping you move forward with establishing a plan and ensuring you take action on the plan,
- ensure your financial planner has taken a fiduciary oath and is a CFP®,
- review and revise your plan with your planner regularly, and
- remember — regardless of your income, everyone can (and should) afford a financial planner!